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U.S. - Lard - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Nov 1, 2024

U.S. - Lard - Market Analysis, Forecast, Size, Trends and Insights

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May 21, 2023

Lard Export in United States Rises Significantly to $3.1M in March 2023

U.S. Lard Exports

In March 2023, shipments abroad of lard increased by 69% to 1.8K tons, rising for the second consecutive month after two months of decline. Overall, exports saw slight growth. The pace of growth appeared the most rapid in April 2022 when exports increased by 468% month-to-month. As a result, the exports attained the peak of 8.2K tons. From May 2022 to March 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, lard exports skyrocketed to $3.1M (IndexBox estimates) in March 2023. Over the period under review, exports posted a moderate expansion. The growth pace was the most rapid in April 2022 when exports increased by 513% against the previous month. As a result, the exports attained the peak of $13M. From May 2022 to March 2023, the growth of the exports remained at a somewhat lower figure.

COUNTRYExport Value of Lard in U.S. (million USD)
Mar 2022Apr 2022May 2022Jun 2022Jul 2022Aug 2022Sep 2022Oct 2022Nov 2022Dec 2022Jan 2023Feb 2023Mar 2023
Mexico2.012.82.21.51.97.52.93.03.52.91.71.92.6
ChinaN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0.5
Hong KongN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
OthersN/AN/A0.1N/AN/AN/A0.20.1N/AN/AN/AN/AN/A
Total2.112.82.31.52.07.53.03.13.52.91.81.93.1

Exports by Country

Mexico (1.4K tons) was the main destination for lard exports from the United States, with a 81% share of total exports. Moreover, lard exports to Mexico exceeded the volume sent to the second major destination, China (304 tons), fivefold.

From March 2022 to March 2023, the average monthly growth rate of volume to Mexico was relatively modest. Exports to the other major destinations recorded the following average monthly rates of exports growth: China (0.0% per month) and Hong Kong (+18.2% per month).

In value terms, Mexico ($2.6M) remains the key foreign market for lard exports from the United States, comprising 83% of total exports. The second position in the ranking was taken by China ($475K), with a 15% share of total exports.

From March 2022 to March 2023, the average monthly rate of growth in terms of value to Mexico totaled +1.9%. Exports to the other major destinations recorded the following average monthly rates of exports growth: China (0.0% per month) and Hong Kong (+18.2% per month).

Export Prices by Country

In March 2023, the lard price stood at $1,732 per ton (FOB, US), reducing by -6.1% against the previous month. Over the last twelve months, it increased at an average monthly rate of +1.6%. The growth pace was the most rapid in April 2022 when the average export price increased by 8% month-to-month. The export price peaked at $1,848 per ton in January 2023; however, from February 2023 to March 2023, the export prices remained at a lower figure.

Average prices varied noticeably for the major export markets. In March 2023, the country with the highest price was Mexico ($1,770 per ton), while the average price for exports to Hong Kong ($1,560 per ton) was amongst the lowest.

From March 2022 to March 2023, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (+1.8%), while the prices for the other major destinations experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the lard market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • FCL 1043 - Lard

Country coverage:

  • United States

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in the U.S.
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption In 2012-2023
    5. Imports, In Physical Terms, By Country, 2012–2023
    6. Imports, In Value Terms, By Country, 2012–2023
    7. Import Prices, By Country Of Origin, 2012–2023
    8. Exports, In Physical Terms, By Country, 2012–2023
    9. Exports, In Value Terms, By Country, 2012–2023
    10. Export Prices, By Country Of Destination, 2012–2023

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
    5. Trade Balance, In Physical Terms, 2012-2023
    6. Trade Balance, In Value Terms, 2012-2023
    7. Per Capita Consumption, 2012-2023
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Exports And Growth
    16. Export Prices And Growth
    17. Market Size And Growth
    18. Per Capita Consumption
    19. Imports And Growth
    20. Import Prices
    21. Production, In Physical Terms, 2012–2023
    22. Production, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, 2012–2023
    24. Imports, In Value Terms, 2012–2023
    25. Imports, In Physical Terms, By Country, 2023
    26. Imports, In Physical Terms, By Country, 2012–2023
    27. Imports, In Value Terms, By Country, 2012–2023
    28. Import Prices, By Country Of Origin, 2012–2023
    29. Exports, In Physical Terms, 2012–2023
    30. Exports, In Value Terms, 2012–2023
    31. Exports, In Physical Terms, By Country, 2023
    32. Exports, In Physical Terms, By Country, 2012–2023
    33. Exports, In Value Terms, By Country, 2012–2023
    34. Export Prices, By Country Of Destination, 2012–2023

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